and only after you covered the "other" aspects of risk management (insurance, umbrella insurance, proper property management, etc.).Here is something to help assess the need for asset protection, and what to implement - my Asset Protection Decision Diagram : https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-decision-diagram Asset Protection Onion Diagram - what, when and at what cost one should implement in terms of asset protection - https://www.biggerpockets.com/files/user/CosIorg/file/asset-protection-onion-diagram-v2 What is needed for a complete asset protection OR the domains that need to be intersected to find asset protection

So any tax strategies should be implemented before the income is earned (entity structures, etc) or should be generated by other means (tax shelters, etc).Using either an S corp or a C Corp can allow you to reduce taxes in certain situations.

When you implement the program be sure to train your tenants on it.

For the cities that have implemented the amendments, this has resulted in changes where neighborhoods that were only zoned for single-family homes can now have fourplexes or townhomes built, and it is significantly reducing red tape around the parameters of where larger multi-family buildings can be developed.While the changes will provide ample opportunities for developers, existing residents in the neighborhoods may bear the burden of the ongoing construction and increasing population once the units are built and rented out.

By implementing proactive maintenance plans, leveraging technology for efficient communication, and fostering strong relationships with reliable service providers, property managers can create a seamless and cost-effective approach to property maintenance.

Here, I will share my insights on utilizing project management software, conducting effective meetings, and implementing a solid business operating system.To effectively track progress, I recommend using project management software like Asana or Monday.com.

I would love to be connected with an established investor in the Chicagoland area to help me implement the right systems, analyze properties appropriately, and to effectively create a viable investment portfolio to make the life for myself and my family that I have always wanted. 

Seek to identify undervalued and underutilized properties in order to implement strategic improvements which can offset the impact of higher interest rates with greater profitability. 4.

And then you can start implementing some of the creative strategies noted by @Matt Bertsch

We are partnering with Greenbrier Property Management to implement our business plan, which includes extensive lease management and premium unit turns along with driving NOI growth through decreasing expenses and increasing revenue through additional income streams such as pet fees and RUBS.